Meyer Werft’s Turku acquisition and TUI Cruises’ two orders confirmed
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 19 September 2014 19 September 2014
Photo credit: Jouni Saaristo
Finnish government and the German shipbuilder Meyer Werft have finalised the purchase of the whole share capital of STX Finland Oy from STX Europe Ltd. Meyer Werft and the State of Finland had published the signing of the acquisition agreement on August 4, 2014. Now the remaining open conditions for the acquisition have been fulfilled: The German antitrust authority approved the corporate acquisition after completing a merger control review. Final decisions regarding construction financing with the commercial banks have also been obtained.
The new name of the company is Meyer Turku Oy.
Meanwhile, the order of German TUI Cruises of two new cruise ships from Meyer Turku has become effective. The ordered ships are sister ships for Mein Schiff 3, which was delivered from the Turku Shipyard in May 2014, and Mein Schiff 4, which will be delivered to TUI Cruises in May 2015. The order of these two new ships is expected to create a direct employment effect of at least 10,000 man years. The ships will be delivered in 2016 and 2017. Furthermore, Meyer Turku and TUI Cruises agreed on two options, with deliveries in 2018 and 2019.
Meyer Werft took up 70 percent of the shares and will carry the main responsibility for the yard’s operations and its further development. The State of Finland purchased 30 percent of the share capital through the Finnish Industry Investment Ltd, a fully government-owned investment company. The investors have injected new equity into the new company, which will constitute a solid basis for further development.
Cruising injected $44 billion in US economy 2013 – study
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 16 September 2014 16 September 2014
An independent report commissioned by CLIA from Business Research and Economic Advisers (BREA), The Contribution of the North American Cruise Industry to the U.S. Economy in 2013, has found that total contributions of the cruise industry to the U.S. economy reached a record $44.1 billion last yrear.
“The cruise industry supported 363,133 U.S. jobs, in every state, paying wages of $18.3 billion. Nearly 10 million cruise passengers embarked at U.S. ports, representing 57% of the North American cruise industry’s global embarkations,” the report said. U.S.-based direct spending by cruise lines, passengers, and crew totaled $20.1 billion, nearly double expenditures made in 2000. Nearly 70% of the cruise industry’s non-wage expenditures were made with U.S.-based businesses
The BREA study found that the positive impacts of the cruise industry are found in every state, ranging from 3,227 jobs and $138 million in direct purchases in Missouri, to more than 140,400 jobs and over $7.3 billion in direct purchases in Florida.
The top 10 U.S. cruise ports accounted for 86 percent of embarkations. Florida remains the center of cruising in the United States, with its five cruise ports accounting for nearly 62 percent of all U.S. embarkations in 2013. California, Texas, and New York each had more than 600,000 embarkations.
Cruise industry worldwide expenditures $117 billion in 2013 - CLIA
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 16 September 2014 16 September 2014
Cruise industry expenditures generated $117 billion in total output worldwide in 2013, requiring 891,009 full-time equivalent employees who earned $38.47 billion in income, Cruise Lines International Association(CLIA) said in a statement. Christine Duffy, CLIA presideng and ceo, noted in the statement that on a global basis, over the ten years from 2003 to 2013, demand for cruising worldwide has increased 77% from 12 million to 21.3 million passengers.
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